Data from CoinGlass shows more than 270,000 investors across the crypto market got liquidated in the past 24 hours, with total liquidation value exceeding USD 1.6 billion. On the news front, market expectations for Federal Reserve rate hikes have picked up notably. On the 3rd local time, the Federal Reserve released its Beige Book, the national economic survey report. The report states that while the AI investment boom remains intact, the US economy faces signs of weakened consumption, sluggish hiring and rising prices. It highlights surging energy costs stemming from Middle East conflicts as the core driver of inflation, spilling over into shipping, packaging, groceries and fertilizer industries.

Besides, Strategy, a major institutional Bitcoin holder worldwide, made an unusual Bitcoin sell-off, ending its long-held buy-only strategy. Latest regulatory filings reveal the firm offloaded 32 BTC worth roughly USD 2.5 million at an average selling price of USD 77,135 per coin.